To The Moon

One of the books I have read and would like to share is "The Automatic Millionaire" by David Bach. 

It is a very simple and easy to read and to follow the principles he expounded, require little discipline since many steps are automatic. It is not a get rich quick book. 

First principle is to save a fixed amount every day, say $5 a day and invest the amount monthly to move closer to your dream. Cut down on unnecessary small expenses daily. Small expenses add up to lots of money over time. 

Second, clear your debts fast so that you have a better cash flow from your monthly income to invest automatically, say in regular monthly invest scheme. 

He talked about putting money in 401 (k) which I think is similar to our SRS supplementary retirement scheme and use the money for investment. This forces you to save for retirement. 

Pay yourself first, then pay others like bills and instalment. Pay in cash rather than in instalment wherever possible. Whatever balance, save and invest. 

David advocate that we must automate all aspect of our financial life. If we can spend time planning a vacation, to spend money, then we should spend time developing a system to automate our savings, automate our investment and be a millionaire automatically. 

I read this book at least a decade ago, and found it very useful, very practical, even if it requires some adaptation to our habits and lifestyle. 

Nothing is easy but not impossible to achieve your dream. Be an automatic millionaire. 

Thanks for reading this book review. Hope you like n enjoy it. More important get hold of the book. Read it and practise it. 

Best wishes.